PROBLEM I

1 The consideration transferred is the fair market value of shares issued by Robin of P2,240,000 (P28 x 80,000 sh).

2 Consideration transferred P 2,240,000

Less: FV of Hope's net assets (2,720,000+200,000-1,200,000) 1,720,000
Goodwill P 520,000

PROBLEM II

1 Accounts receivable 180,000

Inventory 400,000
Land 50,000
Building 60,000
Equipment 70,000
Patent 20,000
Goodwill 10,000
Acquisition expense 20,000
Current liabilities 70,000
Long-term debt 160,000
Cash 580,000

Consideration transferred P 560,000

Less: FV of West's net assets
(P180,000 + P400,000 +P 50,000 +
P60,000 + P70,000 + P20,000 -
P70,000 - P160,000) 550,000
Goodwill P 10,000

2 Accounts receivable 180,000

Inventory 400,000
Land 50,000
Building 60,000
Equipment 70,000
Patent 20,000
Acquisition expense 20,000
Current liabilities 70,000
Long-term debt 160,000
Cash 520,000
Gain on acquisition 50,000

Consideration transferred P 500,000

Less: FV of West's net assets
(P180,000 + P400,000 +P 50,000 +
P60,000 + P70,000 + P20,000 -
 P70,000 - P160,000) 550,000
Bargain purchase gain P 50,000

PROBLEM III

Accounts receivable 231,000

Inventory 330,000
Land 550,000
Buildings and equipment (net) 1,144,000
Goodwill 848,000
Allowance for Uncollectible Accounts (231,000 - 198,000) 33,000
Current liabilities 275,000
Bonds payable 450,000
Premium on bonds payable (495,000 -450,000) 45,000
Preferred stock (15,000 x 100) 1,500,000
Common stock (30,000 x 10) 300,000
Other contributed capital [(25-10) x 30,000] 450,000
Cash 50,000

Consideration transferred (1,500,000 + 750,000 + 50,000) P 2,300,000

Less: FV of net assets (198,000 + 330,000 +
550,000 + 1,144,000 - 275,000 - 495,000) 145,200
Goodwill P 848,000
0,000 (P28 x 80,000 sh).